Critical Elements Announces Closing of C$7.0 Million Bought Deal Life Private Placement

Executive Summary

• Critical Elements Lithium Corp. closed its “bought‑deal” private placement, raising C$7 million gross proceeds, including full exercise of the underwriter’s option.
• The offering consisted of 7.5 M common shares at C$0.40 each and 6.67 M flow‑through shares at C$0.60 each; underwriting fees were C$420,000 plus 850,000 warrants.
• Net proceeds will fund exploration on the Rose West block (Rose Lithium‑Tantalum Property) and Nemaska Belt properties, as well as general working capital.

Key Details

• Gross Proceeds: C$7,000,000.20 total.
• Shares Sold:
• 7,500,000 “HD” common shares @ C$0.40 per share.
• 6,666,667 flow‑through (FT) common shares @ C$0.60 per share.
• Underwriter: Red Cloud Securities Inc., acting as sole underwriter and bookrunner.
• Underwriting Compensation:
• Cash fees: C$420,000.01.
• Warrants: 850,000 non‑transferable common share purchase warrants (exercisable at C$0.40 per share, any time before 5 Dec 2027).
• Use of Proceeds:
• Exploration programs on Rose West block (part of the Rose Lithium‑Tantalum Property) and Nemaska Belt properties in Québec.
• General working capital and corporate purposes.
• Flow‑Through Shares: Proceeds from FT shares earmarked for eligible Canadian exploration expenses (“Qualifying Expenditures”) related to the same projects, to be incurred by 31 Dec 2026 and renounced to subscribers by 31 Dec 2025.
• Regulatory Notes: Offering made under NI 45‑106 listed issuer financing exemption; shares are freely tradeable in Canada. Closing subject to final TSX Venture Exchange approval. No U.S. registration; securities not offered to U.S. persons except via exemption.

Notable Quotes

(No executive quotes were included in the release.)